Netflix CEO Ted Sarandos has claimed that the streaming giant is " saving Hollywood ." Talking at the TIME100 Summit, Sarandos said that he was asked if his company is destroying Hollywood amid issues like shrinking theatrical windows and sagging box office receipts, he said, “No, we’re saving Hollywood.” Sarandos countered these accusations by saying Netflix is “a very consumer-focused company. We deliver the program to you in a way you want to watch it.”
What Netflix CEO said about the movie theatre experience
Referring to the declining box office sales, he said: “What does that say? What is the consumer trying to tell us? That they’d like to watch movies at home, thank you. The studios and the theatres are duking it out over trying to preserve this 45-day window that is completely out of step with the consumer experience of just loving a movie.”
While admitting his love for theatres and their communal atmosphere, the Netflix boss noted, “I believe it is an outmoded idea, for most people, not for everybody.”
However, Netflix hasn’t entirely removed itself from the movie theatre business. The company owns Los Angeles’ Bay Theatre and New York’s Paris Theatre, which Sarandos says Netflix “saved” from becoming a Walgreens.
“We didn’t save it to save the theatre business. We saved it to save the theatre experience,” he added.
The company also gives certain films limited theatrical releases to qualify for awards, as with 2022’s “Glass Onion” and 2024’s “Emilia Pérez.”
“We have these bespoke releases … we have to do some qualification for the Oscars. They have to run for a little bit, it helps with the press cycle a little bit. But I’ve tried to encourage every director we work with to focus on the consumer, focus on the fans. Make a movie that they love, and they will reward you,” Sarandos noted.
“Folks grew up thinking, ‘I want to make movies on a gigantic screen and have strangers watch them [and to have them] play in the theatre for two months and people cry and sold-out shows … It’s an outdated concept,” Sarandos said this while highlighting that Netflix is “in a period of transition.”
When asked if creating films “for the communal experience” is “an outmoded idea,” he replied, “I think it is — for most people, not for everybody. If you’re fortunate to live enough in Manhattan, and you can walk to a multiplex and see a movie, that’s fantastic. Most of the country cannot.”
Although he insisted he still loves movie theatres and their decline doesn’t “bother” him, Sarandos warned Hollywood not to get “trapped” behind traditional theatrical windows. Instead, he argued, studios should adapt to how audiences want to watch movies or risk losing relevance.
What Netflix CEO said about the movie theatre experience
Referring to the declining box office sales, he said: “What does that say? What is the consumer trying to tell us? That they’d like to watch movies at home, thank you. The studios and the theatres are duking it out over trying to preserve this 45-day window that is completely out of step with the consumer experience of just loving a movie.”
While admitting his love for theatres and their communal atmosphere, the Netflix boss noted, “I believe it is an outmoded idea, for most people, not for everybody.”
However, Netflix hasn’t entirely removed itself from the movie theatre business. The company owns Los Angeles’ Bay Theatre and New York’s Paris Theatre, which Sarandos says Netflix “saved” from becoming a Walgreens.
“We didn’t save it to save the theatre business. We saved it to save the theatre experience,” he added.
The company also gives certain films limited theatrical releases to qualify for awards, as with 2022’s “Glass Onion” and 2024’s “Emilia Pérez.”
“We have these bespoke releases … we have to do some qualification for the Oscars. They have to run for a little bit, it helps with the press cycle a little bit. But I’ve tried to encourage every director we work with to focus on the consumer, focus on the fans. Make a movie that they love, and they will reward you,” Sarandos noted.
“Folks grew up thinking, ‘I want to make movies on a gigantic screen and have strangers watch them [and to have them] play in the theatre for two months and people cry and sold-out shows … It’s an outdated concept,” Sarandos said this while highlighting that Netflix is “in a period of transition.”
When asked if creating films “for the communal experience” is “an outmoded idea,” he replied, “I think it is — for most people, not for everybody. If you’re fortunate to live enough in Manhattan, and you can walk to a multiplex and see a movie, that’s fantastic. Most of the country cannot.”
Although he insisted he still loves movie theatres and their decline doesn’t “bother” him, Sarandos warned Hollywood not to get “trapped” behind traditional theatrical windows. Instead, he argued, studios should adapt to how audiences want to watch movies or risk losing relevance.
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